Describe a limited liability company (LLC).
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (3 reviews)
A Limited Liability Company is its own form of business organization It ...View the full answer
Answered By
Wonder Dzidzormenu
As a professional accountant and a teacher, I explain account ing concepts in a more practical way that makes students more connected to the subject.
With over 10 years of teaching accounting , I offer a well constructed , easily understood and in-depth explanations to students questions.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Horngrens Accounting
ISBN: 978-0133117417
10th edition
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura
Question Posted:
Students also viewed these Accounting questions
-
Fox, Dodge, and Gilbey agreed to become limited partners in Palatine Ventures, a limited partnership. In a signed writing each agreed to contribute $20,000. Foxs contribution consisted entirely of...
-
Discuss when a member of a limited liability company does or does not have the following rights or powers: (a) To assign her interest in the LLC, (b) To receive repayment of loans made to the LLC on...
-
Sean McNamee was the owner of an accounting firm, W. F. McNamee & Co., LLC (WFM), which he founded and formed in Connecticut as a limited liability company (LLC). For federal tax purposes, an LLC can...
-
Timetrics 2016 survey of insurance professionals explores the use of technology in the industry. The file Technologies contains the responses to the question that asked what technologies these...
-
The inventory data for an item for November are: Using the perpetual system, costing by the first-in, first-out method, what is the cost of the merchandise inventory of 30 units on November 30? a....
-
What are the major challenges that the meta national model of knowledge creation, sharing and melding tries to address?
-
This chapter examines the role of exploration, invasion, and conquest in Europe's rise to power. However, European society was also a source of great innovation. What is the relationship between...
-
A manager faces peak [week] demand for one of her operations, but is not sure how long the peak will last. She can either use overtime from the current workforce, or hire/lay off and just pay...
-
In Hamdi v. Rumsfeld 542 U.S. 502 (2004), the Supreme Court considered whether or not an American citizen, who was alleged to be an enemy combatant, had the same due process rights as any other...
-
Read the following case study based on the Applegold Cider Company. You should then apply decision analysis to the problem facing Applegold. This will involve: a) Formulating the problem as a...
-
Describe a limited liability partnership (LLP).
-
Describe an S corporation?
-
A bullet is fired vertically upward and reaches a height of 2150 m. (a) Find its initial velocity. (b) How long does it take to reach its maximum height? (c) How long is it in flight?
-
How can we make information systems and computers (in general) easier to use? Give specific examples.
-
Who are expert users? Why are they called expert?
-
Why should the system users be involved in the process of designing user interfaces?
-
It has been said that having limited funds spurs creativity. Do you think this is true? If so, how can a company or an individual stay creative and mentally hungry as they become more financially...
-
How should the interfaces handle errors?
-
The job of applications engineer for which Maria was applying requires (a) Excellent technical skills with respect to mechanical engineering, (b) A commitment to working in the area of pollution...
-
suppose a nickel-contaminated soil 15 cm deep contained 800 mg/kg Ni, Vegetation was planted to remove the nickel by phytoremediation. The above-ground plant parts average 1% Ni on a dry-weight bas...
-
What is an accrued revenue? Provide an example.
-
What is an accrued revenue? Provide an example.
-
When is an adjusted trial balance prepared, and what is its purpose?
-
Martin Company applies manufacturing overhead based on direct labor hours. Information concerning manufacturing overhead and labor for the year is as follows: Actual manufacturing overhead Estimated...
-
$ 719,000 280,000 439,000 150,400 Joyner Company's income statement for Year 2 follows: Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Nonoperating...
-
FIFO and LIFO costs under perpetual inventory system The following units of an item were available for sale during the year: Beginning inventory 22 units at $44 Sale 18 units at $62 First purchase 18...
Study smarter with the SolutionInn App